BILL NO. 237

(as introduced)

2nd Session, 60th General Assembly
Nova Scotia
57 Elizabeth II, 2008



Private Member's Bill



Nova Scotia Public Pension Act



The Honourable Stephen McNeil
Annapolis



First Reading: November 24, 2008

Second Reading:

Third Reading:

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An Act to Establish
a Province-wide Pension Plan
in Nova Scotia

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Nova Scotia Public Pension Act.

2 In this Act,

(a) "Fund" means the Nova Scotia Public Pension Fund established pursuant to this Act;

(b) "Minister" means the Minister of Finance;

(c) "Pension Plan" means the Nova Scotia Public Pension Plan established pursuant to this Act.

3 The Minister has the supervision and management of this Act and the regulations.

4 (1) The Minister shall establish the Nova Scotia Public Pension Plan.

(2) The terms of the Pension Plan and the governance arrangements for the Pension Plan are as set out in the regulations and such other documents as may be created or adopted pursuant to the regulations

5 (1) The Minister shall make the Pension Plan available to every person registered to operate in the Province in accordance with the Partnerships and Business Names Registration Act or the Corporations Registration Act.

(2) For greater certainty, no person referred to in subsection (1) is required to participate in the Pension Plan.

(3) Where a person referred to in subsection (1) participates in the Pension Plan, all employees of that person are required to participate in the Pension Plan.

6 (1) Only persons employed in the Province may be members of the Pension Plan.

(2) A person is employed in the Province if the establishment of the person's employer and to which the person is required to report for work is located in the Province.

(3) A person who is not required to report for work at an establishment of the person's employer is deemed to be employed in the Province if the establishment of the employer from which the person's remuneration is paid is in the Province.

7 (1) The Minister shall establish the Nova Scotia Public Pension Fund for the purpose of the Pension Plan.

(2) The expenses of the administration of the Pension Plan are payable out of the Fund.

8 (1) The Minister may make regulations

(a) setting out the terms of the Pension Plan;

(b) defining any word or expression used but not defined in this Act;

(c) any matter or thing the Minister considers necessary or advisable to carry out effectively the intent and purpose of this Act.

(2) The exercise by the Minister of the authority contained in subsection (1) is regulations within the meaning of the Regulations Act.

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